Zimbabwe owes Britain’s ECGD 190.4 million pounds

Zimbabwe owes Britain’s Export Credit Guarantee Department 190.4 million pounds and has not indicated when it will repay the money, the Undersecretary of State for Business, Innovation and Skills, Edward Davey, told the House of Commons yesterday.

Zimbabwe is among 24 countries, eight of them African, which owe the ECGD 2.4 billion pounds.

Sudan owes the highest amount of 663.68 pounds and like Zimbabwe has not indicated when it will repay the money.

Indonesia is second with 445.96 million pounds but it has indicated that it will repay the money by 1 June 2021.

Iraq is third and owes 290.18 million pounds. It has indicated that it will repay the money by 1 January 2028.

Zimbabwe is fourth.

Relations between Britain and Zimbabwe have been frosty but this has not affected business to a large extent. It is estimated that there are about 400 British companies in Zimbabwe.

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